Shore Bancshares (NASDAQ:SHBI) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Shore Bancshares (NASDAQ:SHBI) issued its quarterly earnings results on Tuesday. The bank reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.10, Zacks reports. Shore Bancshares had a return on equity of 10.40% and a net margin of 13.44%.

Shore Bancshares Price Performance

Shares of SHBI stock traded up $0.39 during trading hours on Tuesday, hitting $13.53. 53,051 shares of the company’s stock were exchanged, compared to its average volume of 122,365. The firm has a 50 day moving average of $13.46 and a two-hundred day moving average of $15.01. Shore Bancshares has a fifty-two week low of $10.31 and a fifty-two week high of $17.61. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.23. The firm has a market cap of $451.48 million, a P/E ratio of 10.15 and a beta of 0.86.

Shore Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Thursday, February 13th were given a $0.12 dividend. The ex-dividend date was Thursday, February 13th. This represents a $0.48 dividend on an annualized basis and a yield of 3.55%. Shore Bancshares’s dividend payout ratio is currently 36.09%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler started coverage on Shore Bancshares in a research report on Thursday, February 6th. They set an “overweight” rating and a $20.00 price objective for the company.

About Shore Bancshares

Shore Bancshares, Inc operates as a bank holding company for the Shore United Bank, N.A. that provides various commercial and consumer banking products and services to individuals, businesses, and other organizations. It offers checking, savings, overnight investment sweep, and money market accounts; and regular and IRA certificates of deposit, as well as CDARS programs and cash management services.